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Technology Stocks : Safeguard Scientifics SFE -- Ignore unavailable to you. Want to Upgrade?

To: David Lawrence who wrote (1521)	7/17/1998 11:49:00 AM
From: still learning	Respond to of 4467

It could be completed by late Au or early sept. still leaving enough time for an Oct announcement ofa 3rd offering before yearend.

To: David Lawrence who wrote (1521)	7/17/1998 11:59:00 AM
From: John Arnopp	Read Replies (1) \| Respond to of 4467

David, I don't think just because it will "commence" in Q3 that it is precluded from "completing" in Q3, also. They've filed, and according to their process timeline, they have the time to get it done by Sept. 30. I'm sure we'll get a third offering, too, but now I'm really confused about who (not Who?): Intellisource would be a big company, and so would ICG (but will their filing be ready and will the 'net market still be hot?), and so would Pac-West. And is Pac-West and internet play? Maybe Who? Vision is an Internet play: Walter Buckley III (founding member and CEO of ICG) is on the board. They (Who?) also want to put their devices into cellular phones! How about Net PCs, PalmPilots, and toasters (OK, so toasters aren't web-enabled--yet, but I heard that Zapata is buying "toast.com" and "lightlybuttered.com" to add to their portal site). By the way, Safeguard is selling a whopping 116K shares in the offering, and will have 5.2M shares after the offering, so that would add about $0.80 to NAV (assuming only a $5 price). The days of $10 post-offering prices are over, for now, but fair value isn't too bad, with future possibilities. When the timeline is more firmly set, I'll add the Who shares to my NAV spreadsheet. --John